Gemini review
Our verdict
Gemini exchange offers free crypto withdrawals but has varying fee schedules.
Gemini is a highly-reputable cryptocurrency exchange that has both a simple and more dynamic user interface (UI). Crypto newbies may use the exchange to purchase any of the 100+ supported cryptos the exchange supports with one click, while others may trade using the platform’s advanced ActiveTrader setup.
On the downside, the site doesn’t support certain major crypto assets and fees are a bit high if you don’t use the ActiveTrader interface.
Pros
-
Available to US residents in all 50 states. Gemini is one of the few crypto exchanges that’s available to all US residents.
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Crypto rewards credit card. You can earn up to 3% on some crypto purchases with the Gemini credit card.
Details
Product details
| Name | Gemini Cryptocurrency Exchange |
| Deposit methods | Bank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFT |
| Supported Cryptocurrencies | BTC, ETH, BCH, EOS, FET, LTC, ADA, XLM, OMG |
| Trading Fee | Taker fee - 0.03-0.4% Maker fee - 0-0.2% |
| Withdrawal Fees | Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month) |
| Fiat Currencies | USD, AUD, CAD, EUR, GBP, SGD, HKD |
Gemini announcement
On 16 November 2022, Gemini announced that it had temporarily paused customer redemptions for its Gemini Earn product.
Gemini stated on its blog that it will not be able to meet its service-level agreement for redeeming the digital assets customers have lent through Gemini Earn within 5 days of redemption request. This does not impact any other Gemini products and services.
Finder Score
★★★★★About Gemini — company background
Gemini was founded in 2015 by the Winklevoss twins of early Facebook fame.
The company is headquartered in New York City.
Listed Gemini crypto exchange assets
Gemini supports over 152 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and USDC, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on Gemini.
Popular assets on GeminiGemini fees
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Cryptocurrency: None Bank transfer (ACH): None, bank fees may apply Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees Paypal: 2.50% of total deposit amount + Trading Fees |
| Withdraw funds | Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month) |
Gemini uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee. Beware that Gemini also charges a spread which may not be displayed when making a purchase.
| Type | Fee |
|---|---|
| Maker | 0-0.2% |
| Taker | 0.03-0.4% |
| Spread | Web Order: 0.5% |
Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.
Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.
Spread fee explained. A spread is the difference between the purchasing price and sale price of an asset and can be thought of as a markup. A spread fee is usually only apply to instant purchases and not the spot market. If a platform advertises zero fee trading then beware that they may charge a spread instead.
Gemini deposit methods
- Bank transfer (ACH)
- Cryptocurrency
- Debit card
- PayPal
- Apple Pay
- Google Pay
- SWIFT
How to sign up on Gemini exchange
Before you can even get started trading on Gemini, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Gemini's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Gemini account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Gemini.
Using the Gemini app
Gemini's mobile app is robust and easy to navigate. All of Gemini's features are made easy to use in a mobile setting. Instant buys via the mobile app are a bit more expensive than the same type of purchase via the web browser version of the exchange.
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 4.5 stars | 45 reviews with 1 downloads |
| Apple Store | 4.8 stars | 92k reviews |
Is Gemini safe?
The platform's security comes with the drawback of a lengthy registration process. The upside is when it's time to do your taxes, you won't have to worry about manually uploading of your crypto transactions. Gemini makes it easy to import your transaction information into a crypto tax software platform.
Gemini has two interfaces: the basic interface which is very newbie-friendly and the ActiveTrader interface for the advanced trader.
Past hacks. Gemini has never been hacked.
Security audits. Gemini has undergone thorough audits. It's the first-ever cryptocurrency exchange to pass the SOC 2 type 1 examination. It plans to be audited for compliance via this examination every year.
Insurance. The company has full FDIC insurance — like a bank does — for fiat currencies up to $250,000.
Keeping your crypto secure
All centralised exchanges, including Gemini, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $149 |
Price (USD) $49.99 |
See more of the best crypto wallets
Gemini customer support
Gemini has customer support, but it isn't always very responsive. Some customers report waiting for as long as weeks to receive emails back from the company.
Gemini rates highly for security, as it's never been hacked. Security features include 2-factor authentication, SOC 2 compliance and FDIC insurance for fiat currencies up to $250,000.
How to reach Gemini customer support
- Contact form
- Live chat
- Telegram
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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Alternatives to Gemini
Your reviews
Keegan Finder
Writer
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Joshua Finder
September 30, 2018
Hi Don,
Thanks for getting in touch with finder. I hope all is well with you. :)
Gemini accepts US dollars via Automated Clearing House (ACH) deposits or wire transfers. For this reason, you can use your US bank account to deposit money to your account given you use the aforementioned methods.
As of now, you can only withdraw crpyto coins from Gemini and not fiat money.
For more information, you may want to directly get in touch with Gemini’s customer support.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
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Norman
December 21, 2017
is there a limit to a wire transfer amount for deposits or withdrawals
Joanne Finder
December 21, 2017
Hi Norman,
Thank you for visiting finder, we are a financial comparison website and general information service.
There are no limits on deposits or withdrawals for Individual or Institutional Accounts for Wire transfers. You may also get additional information via Gemini’s Zendesk support.
Hope this helps,
Joanne
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Kim
December 08, 2017
I have a question. I want to buy ripple, how I should do that?
Rench Finder
December 09, 2017
Hi Kim,
Thanks for your inquiry.
You can buy Ripple as you would buy any other cryptocurrency: from an online exchange. Most require you to go through a verification process but once done you just buy the XRP as you would any other product online. Finally, transfer the coins to your wallet for safekeeping.
Cheers,
Rench
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Don
September 25, 2018
I have a Coinbase account now. Because I am a Canadian resident, they won’t allow me to use my Wells Fargo bank for deposits.(U.S.) I have been dealing in u.s. Funds. Can I sign up with Gemini and continue to use my U.S. Bank? Also if I withdraw funds, can I transfer back to my U.S. Bank?
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